Nuvei reports 19 revenue increase for Q2

Nuvei has published its Q2 2022 results, reporting revenue of $211

Nuvei has published its Q2 2022 results, reporting revenue of $211.3m, an growth of 19% year-on-year.

The payments provider's positive result comes despite an unfavourable impact on revenue by foreign currency exchange rates, to the tune of $9.4m.

Adjusted EBITDA stood at $92.9m, representing an increment of 17%.

Meanwhile, familiarised mesh income increased 16% to $74.7m, with a meshing income per dilute share of $0.23, compared to $0.26.

Adjusted mesh income per dilute deal was $0.51, compared to $0.44.

Cash flow rate from operating activities amounted to $157.2m, an increment of 13%, piece loose hard currency flux increased past 22% to $163.3m.

Nuvei confirmed it exceeded its Q2 outlook for adjusted EBITDA, piece reported revenue strike down unawares of the expected run of 'tween $217m and $233m.

This tin follow attributed to the disconfirming wallop of changes in foreign currency interchange rates, a exchange inwards intensity unify from alternative defrayment methods (APMs) and higher volatility and lour loudness than expected inward digital assets and cryptocurrencies.

Nuvei reported an H1 revenue step-up of 30%, with an familiarized Earnings Before Interest Taxes Depreciation and Amortization step-up of 27%.

Operational highlights included a 22% step-up in Q2 online gaming revenue, the gain of new APMs to growth the portfolio to 571 and the expansion of the table of directors with young appointees Maren Lau and Tim Dent.

Looking forward, Nuvei Chair and CEO Philip Fayer said: “We are amending our outlook for the residual of the year due to unforeseen changes inwards currency, volatility in digital assets and cryptocurrencies, and carefulness with compliments to world-wide economic conditions.

“However, we are maintaining our spiritualist and long-term targets, pursuant to which we aspire to attain $1bn of annual revenue, as we proceed to grow, exfoliation and billet Nuvei for a sustainable future, goaded by our resilient and long-wearing business organisation theoretical account and our ongoing investments inward people, technologies and geographies.”